4-Unit Apartment
For Sale
$1,195,000
511 Angell Street, Providence, RI 02906
Currently occupied, the property combines a varied unit mix with two off-street parking spaces.
Property Size3,500 SF
Price / SF$341.43
Days on Market9
Property Features for 511 Angell Street
General Information
Standard status
Active
Size
3,500 SF
Total Parking Spaces
2
Property subtype
MultiFamily
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA, 1 x studio, 2 x 1BR/1BA
Multifamily Units
4
Building Details
Year Built
2025
Listing Agency:
William Raveis Inspire
(401) 751-8100
Listed By:
Gregory Hall · License #RES.0042173
(401) 743-5161
Source:
Lockandkeyre
Added: Oct 5
Changed: Oct 13
Last Checked: Oct 12 at 7:16PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of William Raveis Inspire
Investment Insights
Based on property information with market context.
This four-unit property in Providence includes a two-bedroom, one-bath apartment of approximately 1,100 square feet, a studio, and two one-bedroom, one-bath apartments. The larger unit has four separate entry doors. Vinyl replacement windows and stainless-steel appliances are among the building features, and two off-street parking spaces are provided. The property was built in 2025 and is currently fully rented.
The building is on Angell Street in the Wayland Square area. Shops, cafés, restaurants, and neighborhood services are nearby. Short-term rentals may be possible subject to applicable Providence regulations, licensing, and approvals.
The building is on Angell Street in the Wayland Square area. Shops, cafés, restaurants, and neighborhood services are nearby. Short-term rentals may be possible subject to applicable Providence regulations, licensing, and approvals.
Key Highlights
- Four apartments: one two‑bedroom, one studio, and two one‑bedroom units
- Approximately 1,100‑square‑foot apartment with two bedrooms, one bath, and four entry doors
- Currently fully rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,101
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,182,020
$1.2M
Cap Rate 7%
$844,300
$844.3K
Cap Rate 9%
$656,678
$656.7K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$90.3K $25.80/SF
− Vacancy
−$5.9K −$1.68/SF
EGI
$84.4K $24.12/SF
− OpEx
−$25.3K −$7.24/SF
NOI
$59.1K $16.89/SF
Area
Providence, RI
Vacancy
6.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,182,020
Cap Rate 7%
$844,300
Cap Rate 9%
$656,678
Alternative Uses
Best Use
Multifamily LT 5
$844.3K
$738.8K – $985.0K
NOI $59,101 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$758.4K
$663.6K – $884.8K
NOI $53,086 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$1.17M
$1.02M – $1.37M
NOI $81,966 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,671
Businesses Nearby
Explore this area
Business Placement
Demographics for 02906, RI
25,559
Population
13,468
Households
1.9
Avg Household Size
35
Median Age
80%
College-Educated
97%
High-School Grad
3.1 sq mi
ZIP Area
8,245
Density / Sq Mi
$102,796
Median Household Income
$57,214
Median Earnings
$1,729
Median Rent
$582,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Currently occupied, the property combines a varied unit mix with two off-street parking spaces.
Where is this quadplex located?
The property is located at 511 Angell Street Providence, RI.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Four apartments: one two‑bedroom, one studio, and two one‑bedroom units; Approximately 1,100‑square‑foot apartment with two bedrooms, one bath, and four entry doors; Currently fully rented
